Brussels, Belgium, July 10th, 2024,
Chainwire
SKALE is enhancing scalability and efficiency for over 10
million monthly active users, solidifying its position as one of
the world’s most efficient blockchains.
SKALE, the gas-less EVM-compatible modular blockchain
network, today launched the Pacifica V3 upgrade which accelerates
block mining speed by 108% and increases transaction throughput by
122%. Leveraging its unique modular AppChain architecture, this
upgrade brings significant advancements to SKALE Network's
capabilities, including improved transaction speed and
predictability, enhanced network performance, and improved
developer tools.
"At SKALE, the commitment to scaling through modularity
since Day 1 drives every aspect of its architecture, including this
massive upgrade,” said Jack O’Holleran, Co-Founder and CEO of SKALE
Labs. “This upgrade will make SKALE the most performant blockchain
in the world in a number of major categories. SKALE is built on a
founding principle of constant innovation. This upgrade underscores
SKALE’s commitment to driving innovation and scalability in
blockchain technology."
Designed with both users and developers in mind, these
enhancements well-position SKALE Network to onboard more impactful
dApps and users without scalability being an issue. Key features
include:
- 108% Increase in Block Mining Speed: Significantly accelerates
the block creation process.
- 122% Increase in Transaction Throughput: Boosts the number of
transactions processed per second.
- EIP-1559 Support for Type 1 & 2 Transactions: Enables
automatic fee adjustments based on network demand, ensuring
predictable transaction fees.
- Interchain Messaging Agent [IMA] Metrics for Enhanced
Reliability: Reduces the max potential time for IMA transfers by
50%, ensuring more stable and reliable transfers.
- Improves SKALE Contract Functionality: New library integration
enhances user experience with streamlined contract deployment and
expanded functionality.
- Amplifies Web3 Tool Compatibility: Improves integration with
web3 tools and wallets and expands developer accessibility and
usability.
This upgrade means building on SKALE is now more powerful and
efficient than ever: the average transactions per second (TPS) for
sFUEL transfers has increased by roughly 120%, while the average
block mining time has been cut in half.
"I'm excited to share the incredible advancements of
the SKALE Pacifica V3 upgrade,” said Stan Kladko, Co-Founder and
CTO of SKALE Labs. “With Pacifica, SKALE's average transactions per
second (TPS) for transfers has more than doubled to 300+, and block
mining time is now less than 2 seconds. And, the new deployment
control functionality enhances security by allowing contract owners
to manage permissions more effectively, while the stability and
reliability of IMA transfers have also been significantly
improved.”
SKALE has integrated new wallets, including the Core Crypto
Wallet & NFT Extension, and Rabby Wallet, to expand its
ecosystem and provide users with more options and a smoother
experience when managing digital assets.
In the forthcoming V3.1 update coming in the last half of 2024,
SKALE will support all pre-deployments in "skale-contract"
functionality and optimize performance through disk partitioning
for chains.
In June 2024, SKALE saved users $400 million in
gas fees while successfully supporting roughly 55 million
transactions.
For more information, users can visit SKALE.space.
About SKALE:
SKALE Labs is the foundation behind SKALE Network, a gas-less
EVM-compatible modular blockchain, which is designed to provide a
world-class experience for builders of games, AI, SocialFi, and
web3 applications. As of Q1 2024, SKALE Network serves over 10
million monthly active users and saves billions in monthly gas fees
with its innovative modular architecture. SKALE Chains feature high
performance, zero gas fees, enhanced security, and instant
finality, making them ideal for a wide range of decentralized
applications. With a commitment to driving the mass adoption of
Web3 technologies, SKALE empowers developers and businesses to
build scalable, efficient, and user-centric blockchain
applications. On the SKALE network, developers can deploy their own
EVM-compatible blockchain by unlocking advanced features such as
AI/ML smart contracts, on-chain file storage, interchain messaging,
and zero-cost minting. Harmonizing speed, security, and
decentralization, SKALE Labs was founded in 2018 by Jack O’Holleran
and Stan Kladko, PhD.
Contact
PR Manager
Kyle
Heise
Serotonin
kyle@serotonin.co